On a larger scale, the Pineapple Fund created a more mysterious form of cryptocurrency philanthropy.
The organization was started in December by an anonymous donor who goes by the nickname “Pine” and claims to be among the 250 largest holders of Bitcoin in the world. The fund aims to give away $86 million worth of Bitcoin, and has already given $20 million worth of the currency to 13 organizations, including million-dollar donations to the Water Project, which provides clean water to people in sub-Saharan Africa, and the Electronic Frontier Foundation, a digital rights watchdog.
(These donations can be verified thanks to Bitcoin’s digital ledger system, which records every transaction in a public database.)
Whoever Pine is, he or she seems to have found a way to convert Bitcoin into something actually useful.